A significant shift towards stablecoins is taking place within the financial sector, with a remarkable 90% of institutions either implementing or planning to adopt these digital assets.
A report released on May 15 by Fireblocks highlights insights from 295 executives from banks, fintech companies, and payment processors, revealing a notable transformation in how institutions view dollar-pegged digital assets.
The survey found that nearly half of the respondents (49%) are currently utilizing stablecoins for payment processing. Additionally, 23% are running pilot programs, and 18% are in the planning stages, leaving only 10% unsure about their stablecoin strategies.
The Race for Stablecoin Adoption
Fireblocks describes the current momentum behind stablecoin adoption as a crucial race for relevance in a rapidly digitalizing financial landscape.
The report explains, “The stablecoin race has become a matter of avoiding obsolescence as customer demand accelerates and use cases mature.”
Stablecoins, which are linked to traditional currencies such as the US dollar, have been identified as a viable alternative to outdated cross-border payment methods.
Notably, 58% of traditional banks are incorporating stablecoins into their cross-border transactions, while 28% accept them for incoming payments. Smaller percentages report using stablecoins for liquidity management (12%), merchant settlements (9%), and inter-business invoicing (9%).
Fireblocks emphasizes that stablecoins facilitate modernization for banks, aligning well with current treasury functions.
By minimizing capital lock-up and enabling quicker settlements, banks can enhance their competitive edge against financial technology firms while leveraging their existing infrastructure.
Speedier settlement times were highlighted as the top advantage by 48% of survey participants.
[5/5] We surveyed 295 executives.
What we found isn’t theory. It's execution.
The State of Stablecoins 2025 report breaks down how banks, fintechs, and PSPs are scaling real stablecoin infrastructure.
Read the full report → https://t.co/gn0oQy88S8 pic.twitter.com/lm87C1BSvk
— Fireblocks (@FireblocksHQ) May 15, 2025
Additional benefits reported by participants include greater transparency, improved liquidity management, seamless payment integration, enhanced security, and lower transaction costs.
Ran Goldi, senior vice president of payments and network at Fireblocks, commented, “Our research shows that 90% of firms are progressing with stablecoin implementations because they view it as a crucial driver for growth.”
Goldi further noted, “Stablecoins have evolved into a facilitative tool for business innovation rather than merely an efficiency strategy.”
The Dominance of Stablecoins
With billions of dollars in daily trading volume and rising interest from institutional players, stablecoins are poised to become the foundational element of the future financial system.
This new product allows companies in 101 countries to hold and transact with stablecoins, presenting a contemporary alternative to traditional banking frameworks.
Meanwhile, Citigroup has made ambitious predictions regarding the stablecoin market, estimating that its total market capitalization could increase dramatically from nearly $240 billion to over $2 trillion by 2030.
Such growth is anticipated to be fueled by regulatory advancements and escalating interest from both the financial sector and public entities, according to the banking giant.
In its base-case scenario, Citigroup suggests that stablecoin supply may hit $1.6 trillion by the decade’s end, while a more optimistic scenario projects this figure could soar to $3.7 trillion.
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